BYD Sets Sights on Tripling Electric Car Sales

China’s BYD (Build Your Dreams) carmaker is betting on being able to more than triple its electric vehicle sales this year to more than 8,000 vehicles, including more than 2,000 electric buses.

The rest will be mainly aimed at the taxi cab industry. Last year, the Warren Buffett-backed company sold just 1,700 electric cars and 700 electric buses.

"We feel that the use of electric vehicles in public transport is the first step and a more realistic way to promote and popularize the products," Liu Xueliang, general manager for Asia-Pacific vehicle sales at BYD, told the Wall Street Journal during a tour of the company’s production facilities in southern China.

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